Solutions Manual for Macroeconomics 6th Edition by Blanchard.

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Copyrightg©g2023gPearsongEducation,gInc.g
Macroeconomics,g14eg(Parkin)g
Chapterg1gggWhatgIsgEconomics?g
g
1ggDefinitiongofgEconomicsg
g
1)gAllgeconomicgquestionsgaregaboutg
A)ghowgtogmakegmoney.g
B)gwhatgtogproduce.g
C)ghowgtogcopegwithgscarcity.g
D)ghowgtogsatisfygallgourgwants.g
Answer:ggCg
Topic:ggScarcityg
Skill:ggRecognitiong
Status:ggOldg
AACSB:ggReflectivegthinkingg
g
2)gAllgeconomicgquestionsgarisegbecausegweg
A)gwantgmoregthangwegcangget.g
B)gwantgmoregthangwegneed.g
C)ghavegangabundancegofgresources.g
D)ghaveglimitedgwantsgthatgneedgtogbegsatisfied.g
Answer:ggAg
Topic:ggScarcityg
Skill:ggRecognitiong
Status:ggOldg
AACSB:ggReflectivegthinkingg
g
3)gEconomicsgisgbestgdefinedgasgthegstudygofghowgpeople,gbusinesses,ggovernments,gandgs
ocietiesg
A)gchoosegabundancegovergscarcity.g
B)gmakegchoicesgtogcopegwithgscarcity.g
C)gusegtheirginfinitegresources.g
D)gattaingwealth.g
Answer:ggBg
Topic:ggScarcityg
Skill:ggConceptualg
Status:ggOldg
AACSB:ggReflectivegthinkingg
g
4)gScarcitygisgagsituationgingwhichg
A)gpeoplegcannotgsatisfygallgtheirgwants.g
B)gmostgpeoplegcanggetgonlygbaregnecessities.g
C)gpeoplegcangsatisfygallgtheirgwants.gg

,D)gsomegpeoplegcanggetgallgtheygwantgandgsomegcannot.gg
Answer:ggAg
Topic:ggScarcityg
Skill:ggRecognitiong
Status:ggOldg
AACSB:ggReflectivegthinkingg
ACCESSgTestgBankgforgMacroeconomicsg14thgEditiongParkin
nursytestbank.store
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Copyrightg©g2023gPearsongEducation,gInc.g
g
5)gEconomistsgpointgoutgthatgscarcitygconfrontsg
A)gneithergthegpoorgnorgthegrich.g
B)gthegpoorgbutgnotgthegrich.g
C)gthegrichgbutgnotgthegpoor.g
D)gbothgthegpoorgandgthegrich.g
Answer:ggDg
Topic:ggScarcityg
Skill:ggConceptualg
Status:ggOldg
AACSB:ggEthicalgunderstandinggandgreasoningg
g
6)gScarcitygisg
A)gourginabilitygtogsatisfygallgourgwants.g
B)gagsituationgthatgexistsgduringgeconomicgrecessionsgbutgnotgduringgeconomicgbooms.g
C)geliminatedgbygchoices.g
D)gangeconomicgproblemgonlygforgpoorgpeople.g
Answer:ggAg
Topic:ggScarcityg
Skill:ggRecognitiong
Status:ggOldg
AACSB:ggReflectivegthinkingg
g
7)gWhengangeconomistgtalksgofgscarcity,gthegeconomistgisgreferringgtogtheg
A)gabilitygofgsocietygtogemploygallgofgitsgresources.g
B)gabilitygofgsocietygtogconsumegallgthatgitgproduces.g
C)ginabilitygofgsocietygtogsatisfygallghumangwantsgbecausegofglimitedgresources.g
D)gabilitygofgsocietygtogcontinuallygmakegtechnologicalgbreakthroughsgandgincreasegprodu
ction.g
Answer:ggCg
Topic:ggScarcityg
Skill:ggRecognitiong
Status:ggOldg
AACSB:ggReflectivegthinkingg
g

,8)gFundamentalgeconomicgproblemsgbasicallygarisegfromg
A)gthegfactgthatgsocietyghasgmoregthangitgneeds.g
B)gturmoilgingthegstockgmarket.gg
C)gthegunequalgdistributiongofgincome.g
D)gourgwantsgexceedinggourgscarcegresources.g
Answer:ggDg
Topic:ggScarcityg
Skill:ggRecognitiong
Status:ggOldg
AACSB:ggReflectivegthinkingg
g
g
g
ACCESSgTestgBankgforgMacroeconomicsg14thgEditiongParkin
nursytestbank.store
3g
Copyrightg©g2023gPearsongEducation,gInc.g
9)gScarcitygexistsgbecauseg
A)gsocietygandgpeoplegareggreedygandgwasteful.g
B)gourgwantsgexceedgthegresourcesgavailablegtogsatisfygthem.g
C)gofgtheginefficientgchoicesgwegmake.g
D)gpoorgpeoplegneedgmoregfoodgandgotherggoods.g
Answer:ggBg
Topic:ggScarcityg
Skill:ggRecognitiong
Status:ggOldg
AACSB:ggReflectivegthinkingg
g
10)gScarcitygcangbegeliminatedgthroughg
A)gthegusegofgmarketgmechanisms.g
B)gexplorationgthatghelpsgusgfindgnewgresources.g
C)gwisegusegofgourgresources.g
D)gNonegofgthegabovegbecausegscarcitygcannotgbegeliminated.g
Answer:ggDg
Topic:ggScarcityg
Skill:ggRecognitiong
Status:ggOldg
AACSB:ggReflectivegthinkingg
g
11)gAsgangeconomicgconcept,gscarcitygappliesgtog
A)gbothgmoneygandgtime.g
B)gmoneygbutgnotgtime.g
C)gtimegbutgnotgmoney.g
D)gneithergtimegnorgmoney.g
Answer:ggAg

, Topic:ggScarcityg
Skill:ggConceptualg
Status:ggOldg
AACSB:ggReflectivegthinkingg
g
12)gIngeverygeconomicgsystem,gchoicesgmustgbegmadegbecausegresourcesgareg________gandg
ourgwantsgareg
________.g
A)gunlimited;glimitedg
B)glimited;gunlimitedg
C)gunlimited;gunlimitedg
D)glimited;glimitedg
Answer:ggBg
Topic:ggScarcityg
Skill:ggConceptualg
Status:ggOldg
AACSB:ggReflectivegthinkingg
g
g
g
ACCESSgTestgBankgforgMacroeconomicsg14thgEditiongParkin
nursytestbank.store
4g
Copyrightg©g2023gPearsongEducation,gInc.g
13)gThegproblemgofg"scarcity"gappliesg
A)gonlygingindustriallygdevelopedgcountriesgbecausegresourcesgaregscarcegingthesegcountri
es.g
B)gonlygingunderdevelopedgcountriesgbecausegtheregaregfewgproductivegresourcesgingthese
gcountries.g

C)gonlygingeconomicgsystemsgthatgaregjustgbeginninggtogdevelopgbecausegspecializedgresou
rcesgaregscarce.g
D)gtogallgeconomicgsystems,gregardlessgofgtheirglevelgofgdevelopment.g
Answer:ggDg
Topic:ggScarcityg
Skill:ggConceptualg
Status:ggOldg
AACSB:ggReflectivegthinkingg
g
14)gScarcitygrequiresgthatgpeoplegmustg
A)gcooperate.g
B)gcompete.g
C)gtrade.g
D)gmakegchoices.g
Answer:ggDg
Topic:ggScarcityg